IEA cuts 2026 oil demand forecast again as Hormuz remains shut
Middle East2 sources2 countries🔦 Under-reported24m ago
The International Energy Agency (IEA) sharply reduced its forecast for global oil demand in 2026 on Wednesday, citing ongoing supply constraints caused by the continued closure of the Strait of Hormuz.
According to the IEA, global oil supply is now expected to fall by an average of 4.3 million barrels per day this year, before experiencing a recovery in the following year.
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Free Malaysia Today (MY)Highlights specific supply contraction figures and geographical context in Paris.
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